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Lester Krone

Managing Director

Lester H. Krone is a Managing Director at Stern, who works primarily with private developers to structure and document non-recourse debt financing to fund renewable projects. Under his leadership Stern recently completed the financings of the Red Rock Biofuels bio-fuel production facility in Lakeview, Oregon and the Prairie Catalytic (Greenyug) bio-chemical production project in Columbus, Nebraska. Since Les joined Stern in 2009 the firm has financed several bio-products projects, a hydro expansion project, a wood pellet project, a fuel cell project and a recycling facility.

Prior to joining Stern, Les was a Managing Director with the Energy and Power Investment Banking Group with Wachovia Securities, and previously worked at A. G. Edwards & Sons, Inc. as Managing Director and head of the Utility Group. Under his leadership the Utility Group helped raise over $30 billion of capital for more than 70 different clients in the investor-owned electric, gas and water utility industries. Les joined A. G. Edwards in 1987 where he played a key role in establishing the Utility Group which served U. S. investor-owned electric, gas and water utilities. In addition, he became one of the country’s leading bankers in the water utility industry, with over 30 significant capital-raising and M & A assignments.

Mr. Krone received his MBA from Harvard Business School and has a MS in Civil Engineering from Washington University in St. Louis, as well as a BS in Architectural Engineering from the University of Colorado. He holds Series 7, 79 and 63 securities licenses, and is a registered professional engineer in Missouri.

Who We Are

Stern Brothers is a certified woman-owned business enterprise (“WBE”) and is one of the few remaining independent, private investment banks in the country.